Noting 'Stable Green Technology', Wunderlich Reiterates Buy Rating on Johnson Controls (JCI)

Wunderlich Securities reiterates its buy rating on Johnson Controls JCI Tuesday, noting that the company is "one of the more stable green technology companies in our universe." Johnson Controls reported fiscal 2Q11 results before the open on Monday. The company reported revenue and EPS excluding one-time charges of $10.1 billion and $0.56, respectively versus Street forecasts of $9.36 billion in revenue and EPS of $0.56. The company is guiding to a $500 million revenue hit in fiscal 3Q resulting from auto production cuts due to parts shortages. Johnson Controls, Inc. ceates products and services that optimize energy use. It also provides batteries for automobiles and hybrid electric vehicles, along with related systems engineering, marketing and service expertise, and provides automotive interiors. JCI raised fiscal 2011 revenue guidance by $1 billion to $39.5 billion. Wunderlich Securities reiterates its Buy rating on JCI shares and a $45 price target. Wunderlich analyst Theodore O'Neill notes that "from the perspective of energy-saving segments, more than 40% of the revenue comes from lowering energy costs for others or lowering carbon footprints. Shares of Johnson Controls lost $1.13 on Monday, to $39.60.